Spire Inc (SR)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	3,247,800	3,554,000	3,553,300	3,702,500	3,156,300	2,958,500	3,207,900	3,207,300	3,206,800	2,939,100	2,939,000	2,692,500	2,517,600	2,423,700	2,478,300	2,484,800	2,484,400	2,082,600	2,042,300	2,041,900
Total stockholders’ equity	US$ in thousands	3,050,800	2,917,300	2,932,500	2,986,500	2,864,100	2,818,500	2,845,900	2,841,200	2,669,800	2,658,200	2,697,100	2,731,300	2,586,800	2,522,300	2,558,400	2,665,600	2,586,000	2,543,000	2,612,600	2,406,000
Debt-to-equity ratio		1.06	1.22	1.21	1.24	1.10	1.05	1.13	1.13	1.20	1.11	1.09	0.99	0.97	0.96	0.97	0.93	0.96	0.82	0.78	0.85

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $3,247,800K ÷ $3,050,800K
= 1.06

The debt-to-equity ratio of Spire Inc. has fluctuated over the past eight quarters, ranging from 1.35 to 1.61. Generally, a higher debt-to-equity ratio indicates a higher degree of financial leverage and potential financial risk. In the most recent quarter, Q1 2024, the ratio stood at 1.55, suggesting that the company relies more on debt financing than equity for its operations and growth. This may be a concern for investors and creditors as it implies a higher level of debt relative to equity in the company's capital structure. It is important for Spire Inc. to closely monitor and manage its debt levels to ensure financial stability and sustainability in the long term.